Unlocking Financial Freedom: Revisiting Our Beliefs
Unlocking Financial Freedom: Revisiting Our Beliefs
We often hear about the foundational rules of money:
Make a budget and stick to it
Save 10% in a fund you don’t touch
Give 10%
Spend less than you make
These guidelines are simple and clear, yet why do so many of us struggle to follow them? The answer lies deeper within our beliefs about money and whether we believe we deserve abundance.
Statements such as:
"I can’t afford to save or give."
"Budgets aren’t realistic."
"I can’t be confined to rules like these."
"I deserve to have the things I want."
"But what about my needs?"
These are more than just self-made barriers; they're emotional responses rooted in our belief systems. I'm guilty of succumbing to these justifications myself. They are driven by our perceptions of money, which often have more to do with our emotions than practical needs.
Understanding Our Financial Beliefs
Our financial situations often mirror our self-image and self-esteem. Many of these beliefs about money stem from what we've learned by watching our parents and how they handled finances. Have you ever considered, "Do I believe I deserve financial security?" Our early experiences often shape these beliefs, leaving many unchallenged over time.
Let's dare to stretch beyond our comfort zones—embrace the "feel the fear and do it anyway" mentality.
Emotions at Play
When you spend money, what emotions arise? Different purchases stir different feelings. Consider how you feel when spending on:
Food, housing, or clothing
Career or business investments
Entertainment, travel, or charity
Education, savings, or taxes
Fun and leisure
These categories elicit various emotional responses, some strong, others subtle. Pay attention to them.
Before spending, reflect on these feelings:
How do I feel right now?
Is this a purchase fulfilling a need or masking an emotion?
How will I feel about this tomorrow, or next year?
Will this purchase divert me from my bigger goals?
Can I delay?
Each dollar spent today is more than just a dollar; it's a part of our future.
Taking Control: Altering Your Financial Path
I invite you to challenge your spending habits for one week.
Try not buying your regular non-essentials—like dining out or new clothes. Discover cost-effective alternatives, or choose to go without.
When buying necessities, use only cash. This physical exchange can change your perception of spending.
After a week, assess whether you've spent less and, more importantly, how you feel about your finances. Adjust based on your insights and continue for another week, and then another—21 days to build a habit.
If you need encouragement, create a support system with friends facing the same challenge. Whenever you’re tempted to stray, lean on each other for support.
Returning to the Core Principles
Reflect on your thoughts and feelings about money's fundamental rules. As you slowly review each, consider their origins. Did you subconsciously adopt these beliefs from your upbringing, or did you actively choose them? Are you ready to let go of beliefs that no longer serve you?
The beauty lies in choice—given this awareness, would you keep them or choose differently?
The power to reshape our financial future is within us. What choice will you make today?
